Vastavam web: Almost one million people in India are “testing” WhatsApp’s payments service, and the company is working with the Indian government, NPCI and multiple banks to further expand the feature to more users, a company official said.WhatsApp payment service, which rivals the likes of Paytm, has been in beta testing over the last few months. The Facebook-owned company hasn’t yet announced a launch date but industry watchers expect it to happen in the next few weeks.
“Today, almost one million people are testing WhatsApp payments in India. The feedback has been very positive, and people enjoy the convenience of sending money as simple and securely as sending messages,” a WhatsApp spokesperson told.WhatsApp had received permission from NPCI to tie up with banks to facilitate financial transactions via Unified Payments Interface (UPI).Paytm founder Vijay Shekhar Sharma had earlier this year alleged that WhatsApp’s UPI payment platform has security risks for consumers and is not in compliance with the guidelines.
The Reserve Bank of India has mandated all payment system operators to ensure that data related to payments is stored only in India giving firms six months to comply with it.WhatsApp had stated that sensitive user data such as the last 6 digits of a debit card and UPI PIN is not stored at all.While it admitted to using the infrastructure of Facebook for the service, it asserted that the parent firm does not use payment information for commercial purpose.”Facebook processes UPI transaction data as a service provider for WhatsApp, and does not use WhatsApp payments transaction data for commercial purposes,” the spokesperson clarified.